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India may soon end the agreement with the organization of South East Asian nations (ASEAN). Despite the nine round of talks, review of free trade agreement with India is delayed. For this reason, this agreement of 2009 can be canceled by India. According to a report, the Indian industry is very much under pressure about this.
Unilateral free trade agreement with ASEAN has hurt India’s interests. According to a report in Hindustan Times, a large section of the domestic industry wants that if the 10th round of talks are not successful, then India should cancel this agreement. ASEAN-India Goods Trade Agreement (AITIGA) 10th review meeting is expected to be held in Delhi next month.
This agreement was signed by the then Commerce Minister Anand Sharma in August 2009. He said, “The FTA, which came into force on 1 January 2010, has adversely affected India. Due to its weak provisions, there was a massive dumping of Chinese goods through 10 ASEAN countries. This includes Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam. “ There may be a boom for review
According to the report, an official said, ASEAN can speed up the review process. It has passed more than two years. The officer said on the condition of anonymity, both sides agree to pursue the review fast. This will have a positive effect on the trade. The goal about the trade agreement is to reach concrete results by 2025.
Indian industry place hopes that the issue of ASEAN countries can solve the issue. There has already been a lot of delay about this. So now there is a need to solve the issue rapidly.
(tagstotranslate) India
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